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Keynesian Economics

Questions on Chapter 18: Economic Policy

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Roman Caposino March 6th, 2014 Chapter 18 #1-5 AP Government & Politics When the economy is thriving, the government tends to spend more money. Unfortunately, when the economy is not thriving, or even if it is, the government still spends way more money than it makes, creating a huge deficit. Generally, voting behaviors of politicians and economic conditions are not always correlated, both at national and local levels. Politicians do not vote within their spending limit sometimes, because they know the federal government will pay for their deficit.

Economics Commentary (IB, IA)

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Commentary This article is about a recent decline in England?s economy, and how it may affect us on a macroeconomic level (i.e. the country?s future in regards to its, monetary policy, employment, GDP, and inflation). As England endures their economic recession we?ve seen an increase in unemployment, reductions in salaries and wages, and a decrease in consumer confidence.

Economics Commentary (IB, IA)

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Commentary This article is about a recent decline in England?s economy, and how it may affect us on a macroeconomic level (i.e. the country?s future in regards to its, monetary policy, employment, GDP, and inflation). As England endures their economic recession we?ve seen an increase in unemployment, reductions in salaries and wages, and a decrease in consumer confidence.

Chapter 21 - Monetary Policy and Central Banking - test

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Chapter 21 - Monetary Policy and Central Banking Answer: c Which of the following is not one of the basic functions of money? Store of value Unit of account Medium of barter Means of payment Answer: b Which of the following best describes ?money,? as the term is used in economics? The root of all evil A liquid asset A means of measuring velocity A unit of additivity Answer: d Which of the following items is included in M2, but not in M1? Currency Travelers checks Treasury bills (T-bills) Savings deposits Answer: d Which of the following represents a part of the U.S. money stock (M2)? A quarter received by a child for doing the dishes A corporation?s deposit of $1 billion in Bank of America

A Brief History of Economics

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John Maynard Keynes was a British economist whose ideas have greatly shaped modern macroeconomics, and indeed is credited as the father of all modern macroeconomics. His ideas are the basis for the school of thought known as Keynesian economics. Keynesian Economics states that some microeconomic decisions may lead to macroeconomic inefficiencies. In other words, if a small economy such as Arizona’s real estate market slips, it could cause the large economy it is a part of, the economy of the United States, to wane. Several branches of Keynesian Economics are used today. Adam Smith’s economic theory basically states that as long as people act in their own self interest, the economy will remain stable to its highest efficiency.
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